The Armenian government approved grant and credit agreements between Armenia and the European Bank for Reconstruction and Development (EBRD) totaling 12 million euros at a meeting on May 8. A grant of 2 million euros will be provided from the special fund of EBRD shareholders.
According to the agreement, a customs-logistics center will be built in the Syunik region on a land plot of 7.7 hectares, located near the village of Shaki, 7 km from Sisian, on the territory adjacent to the North-South automobile corridor. The project's goal is to provide technical maintenance and consulting services for project implementation.
The project includes the construction of an administrative building with a rooftop solar power station, as well as equipment for detailed inspection of transport, customs clearance, and other infrastructure. The center will be equipped with laboratory and X-ray equipment, as well as weighing equipment for cargo control.
Establishing such a center will become a priority for the Syunik region, where existing temporary storage facilities face capacity issues.
Earlier, BMG reported that Armenia became a member of the EBRD on December 7, 1992. The Bank has participated in financing 210 projects in Armenia, with a total investment portfolio of 2.080 billion euros. The share of investments in the private sector is 81%.
